AUDUSD Price Is Targeting Previous Low at $0.65 Level

AUDUSD under bears’ pressure

AUDUSD Price Analysis – 23 October

If customers are driven enough to go beyond the $0.66 barrier, they could be able to reduce AUDUSD to about $0.65 or possibly $0.64. If buyers are successful in pushing the price above the $0.67 resistance level, prices may rise to the $0.68 and $0.69 resistance levels.

Key levels:

Resistance levels: $0.67, $0.68, $0.69

Support levels: $0.66, $0.65, $0.64

AUDUSD Long-term Trend: Bearish

On the daily chart, the value of the AUDUSD is declining. The start of a bearish trend for the currency pair was indicated by a sizable bearish candle that emerged on October 1. The bears’ efforts caused the price to fall by $0.67. The price had fallen from the initial projection to $0.66 by the time sales began to fall. The AUDUSD price broke over the barrier at $0.67. The $0.69 barrier remained intact. The market retreated to test the $0.66 support level last week. The current situation supports the bears’ prognosis of a successful slide to $0.66.

A sell forex signal appears when the histogram of the red QQE MOD indicator drops below the zero level. If customers are driven enough to go beyond the $0.66 barrier, they could be able to reduce the price to about $0.65 or possibly $0.64. If buyers are successful in pushing the price above the $0.67 resistance level, prices may rise to the $0.68 and $0.69 resistance levels. The market is deemed bearish when the currency pair clears the Hull Suite forex signals indicator.

AUDUSD medium-term Trend: Bearish

The Australian dollar’s 4-hour chart shows a declining trend. The $0.69 barrier level held back the currency pair’s movement for over a week. Between $0.68 and $0.67 was the pricing range. Last week, as the price started to decline below the dynamic barrier level, more bearish candles burned. On the chart, the 4-hour candle that closed below $0.67 last week looks to be negative. With the removal of the previous barrier to movement, the downward trend may continue.

The AUDUSD market might continue to drop, in my opinion. The QQE MOD and the red histogram both exhibit a downward trend and are below zero.

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